KB Home Announces Plans for New Luxury Homes on Westside of Los Angeles

<p> <b>Noteworthy land acquisition in popular master-planned community of Playa Vista allows KB Home to offer more new homes that meet the live-work-play ideal just minutes from the beach</b> </p>

Thursday, December 13, 2012

KB Home Announces Plans for New Luxury Homes on Westside of Los Angeles08:00 EST Thursday, December 13, 2012
LOS ANGELES (Business Wire) -- KB Home (NYSE: KBH), one of the nation's largest and most recognized
homebuilders, today announced that it has purchased land from Brookfield
Residential Properties Inc. in the master planned coastal community of
Playa Vista. KB Home plans to construct more than 100 new luxury homes
as part of Playa Vista's exciting final phase of development.
Well-familiar with this now-thriving community, KB Home has already
enjoyed success with condominium homes in the first phase of
development, including its award-winning LEED Platinum certified Primera
Terra project which sold out earlier this year.
“Playa Vista has become one of the crown jewels of Los Angeles' Westside
and we're very pleased to be a part of its next evolution,” said Jeffrey
Mezger, president and chief executive officer of KB Home. “Our new homes
planned for the final phase of Playa Vista are designed to appeal to the
discerning Westside buyer looking for a true haven to call home, nestled
in a small-town atmosphere with the conveniences and excitement of a big
city. Playa Vista already has so much going for it and we're ready to
help make it an even better place to live, work and play.”
Indeed Playa Vista, one of the Westside's most desirable zip codes is
already home to over 6,500 LA residents, and KB Home is ready to
“welcome home” even more Angelenos. Construction on KB Home's new
communities in Playa Vista will begin in the spring with three-story
detached homes with as many as four bedrooms and three-and-a-half baths
in up to 2,800 square feet. KB Home also plans to build contemporary
single-level condominiums offering private elevator access to each home,
with more than 2,000 square feet of living space and customizable
interiors.
Residents will enjoy the benefits of living in a well-established and
pedestrian-friendly neighborhood ideally situated near the vibrant
Westside communities of Marina Del Rey, Venice, Culver City and Santa
Monica. The CenterPointe Club, a private resident activity center with a
host of amenities including pools, a spa and gym, is within walking
distance of the new KB Home projects, and a second all-new activity
center is also planned in Playa Vista's final phase. An additional 24
acres of new parks, walking trails and green space will link to the
already massive network of recreational area in Playa Vista that also
includes sports fields and courts, dog parks and performance venues.
Families with children are served by the newly-opened Playa Vista
Elementary School, a demonstration school in partnership with Loyola
Marymount University
And it's not just thousands of happy Angelenos who call Playa Vista
home. Leaders in gaming, technology and marketing including Electronic
Arts, Belkin, Facebook, YouTube and FoxSports.com are among those
occupying more than two million square feet of office space in The
Campus at Playa Vista. The Los Angeles Clippers professional basketball
team has called Playa Vista home since the 2008 opening of their
state-of-the-art training facility there. World-renowned aviator and
business mogul Howard Hughes and his ‘Spruce Goose' once called Playa
Vista home as well. Today, the hangar space is part of the Hercules
Campus and boasts one of the country's largest soundstages. Advertising
execs from up and coming firm 72andsunny along with other entertainment
and media companies plan to move into Hughes' old office space in The
Hercules Campus in the coming months.
When Playa Vista professionals and residents are ready for dining out
and entertainment, they soon won't need to leave the neighborhood thanks
to the planned “Runway at Playa Vista” lifestyle and entertainment
district that new and existing KB homeowners will also enjoy.
Construction on the center, which will become Playa Vista's “downtown,”
is anticipated to occupy the equivalent of four city blocks in the final
phase and includes new restaurants and boutiques, a gourmet grocery
store and 10-screen movie theater. “Runway” will provide a unique and
modern addition to existing neighborhood services and conveniences that
currently include banking and dry cleaning, Pilates and yoga, a coffee
house, restaurants and a branch of the LA public library.
KB Home, in business since 1957, also calls the Westside of Los Angeles
home, with its corporate headquarters just a few miles away in Westwood,
and is currently the largest publicly traded homebuilder in California
based on homes delivered. Homebuyers enjoy KB Home's signature Built to
Order™ experience, during which they can choose their floor plan as well
as many of the interior design elements like flooring, cabinetry,
lighting and other finishing details. The homebuilder has also become a
leader in the industry when it comes to sustainability initiatives,
having constructed over 68,000 ENERGY STAR certified home nationwide. It
constructed the first LEED Platinum certified homes in Playa Vista last
year. KB Home's approach to its new construction in Playa Vista is
anticipated to be equally environmentally conscious and
resource-efficient.
To learn more about KB Home and register to receive updates on its new
homes planned for Playa Vista, visit kbhome.com or call 888-KB-HOMES.
About KB Home
KB Home is one of the largest and most recognized homebuilding companies
in the United States. Since its founding in 1957, the company has built
more than half a million quality homes. KB Home's signature Built to
Order™ approach lets each buyer customize their new home from lot
location to floor plan and design features. In addition to meeting
strict ENERGY STAR® guidelines, all KB homes are highly energy efficient
to help lower monthly utility costs for homeowners, which the company
demonstrates with its proprietary KB Home Energy Performance Guide®
(EPG®). A leader in utilizing state-of-the-art sustainable building
practices, KB Home was named the #1 Green Homebuilder in the most recent
study by Calvert Investments and the #1 Homebuilder on FORTUNE
magazine's 2011 World's Most Admired Companies list. Los Angeles-based
KB Home was the first homebuilder listed on the New York Stock Exchange,
and trades under the ticker symbol "KBH." For more information about KB
Home's new home communities, call 888-KB-HOMES or visit www.kbhome.com.
KB HomeCraig LeMessurier925-983-4509clemessurier@kbhome.com

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